You can ignore the below if the company is owned only by individuals (in this case, you do not need to appoint a Statutory auditor).
This is mandatory if one shareholder with the majority of the capital and one of the following activities: credit establishment, payment establishment, insurance or reinsurance, pension institution, mutual insurance, and also if one of the following criteria are met:
(1) Financial - if two of the three conditions below are met:
- balance sheet: €1M+
- gross revenues: €2M+
- employees: 20+
Note that, for example, when you create the company, the Statutory auditor is not appointed (even if the conditions are met during the first accounting year), it becomes mandatory for the following accounting year.
(2) Capital ownership - if:
- one of the shareholders is a moral person holding the majority of the voting rights (in Made in Law's documents, one share = 1 vote, so if one sharehoder is a company and holds more than 50% of the voting rights) or
- one of the shareholders is an individual and has a dominant influence within the new company (ie the shareholder of the new company are a mix of companies and individuals, but one individual holds more than 40% of the voting rights directly or indirectly within the new company).
Madeinlaw.com adapts the questions depending on your situation, helping you to determine whether or not you need to appoint a Statutory auditor. If you are not familiar with these situations, please contact us, we can connect you to our partners.
Madeinlaw.com collects and prepares all of the needed incorporation documents.Madeinlaw.com facilitates discussions and procedures to help you save time, but does not take any commission on the Statutory auditor's fees. To know more, contact us.